Published On: Sat, Apr 30th, 2011

Saab in Funding Talks with Chinese Automakers

AMSTERDAM: Syker Cars NV the Dutch car manufacturer that owns Saab Automobile, Swedish car maker, is in talks with Great Wall Motor Co Ltd, China Youngman Automobile Group Co. and Jiangsu Yueda Group Co.

The Saab is in talks with companies about possible investments, according to people familiar with the situation.

The source said “The negotiations are very far advanced and should produce results over the weekend.”

After many stopped delivering parts, Saab has been scrambling to find funding to pay suppliers, bringing Saab’s assembly line to a standstill for much of April.

A source earlier identified Great Wall as one of the companies, Spyker has previously said it is in talks with various Chinese automakers, but not identified them.